Cryptocurrency investors and industry executives who are advocating for Vice President Kamala Harris to adopt a more accommodating regulatory approach to the industry are organizing a fundraiser in Washington on September 13th to raise a minimum of $100,000 for the Democratic presidential nominee.
The organizers informed Reuters that the grassroots event is scheduled to occur between the Congressional Black Caucus and Congressional Hispanic Caucus conferences and is intended to unite a diverse group of donors. According to Cleve Mesidor, founder of the National Policy Network of Women of Color in Blockchain and one of the organizers, the cost of tickets for the fundraiser ranges from $500 to $5,000.
In comparison to the hundreds of millions of dollars that Harris has amassed since assuming the role of Democratic presidential candidate in July, when President Joe Biden withdrew from the campaign, the event’s fundraising objective is modest.
However, it is the most recent indication that at least some members of the industry are supporting her over Republican nominee Donald Trump, who has courted significant crypto donors with amicable policy commitments.
Tiffany Smith, co-chair of the Blockchain & Cryptocurrency Working Group at WilmerHale, and Rahilla Zafar, a crypto founder who has also worked in artificial intelligence, are among the organizers. If elected, they anticipate that Harris will moderate her stance on cryptocurrency following the Securities and Exchange Commission’s (SEC) crackdown on the sector during Biden’s tenure.
In their personal capacities, Smith and Mesidor, who is also the executive director of the Blockchain Foundation, are organizing the fundraiser.
The agency alleges that crypto firms are violating securities laws, despite the industry’s denial that these laws are applicable to them.
“Why not capitalize on the initial fundraiser — and there will be numerous others — to make a statement about the significance of cryptocurrency to Democrats as a prospective new administration considers their perspective?” asked Mesidor.
She expressed her aspiration that the event would encourage discussions regarding the potential of a Harris administration to promote crypto innovation and increase the availability of capital for individuals of color.
WilmerHale’s Smith stated, “We wanted to ensure that we were supportive of the Democratic presidential nominee’s transition and that we united to assist her in comprehending the significance of this industry.”
The group is not associated with the Harris campaign, which did not respond to a request for comment for this story.
Additionally, this month, a distinct organization known as Crypto4Harris is preparing to organize fundraising events in support of Harris. Billionaire Mark Cuban and Wall Street financier Anthony Scaramucci spoke in favor of Harris during a town hall that the organization conducted.
Reuters previously reported that Harris’ campaign staff have met with prominent crypto firms, including Ripple and Coinbase, despite the fact that she has not yet publicly taken a stance on crypto.
Campaign finance records indicate that those and other significant crypto corporations are contributing to pro-crypto candidates in congressional elections in both parties through super political action committees, rather than supporting either presidential candidate.
During an event at the Democratic National Convention this month, Brian Nelson, a senior adviser for the Harris campaign, stated that Harris would endorse the advancement of emergent technologies. This statement was interpreted by numerous members of the crypto industry as a positive indication.
“(Harris) has the opportunity to really establish a strategy that will persuade a significant number of these electors to abandon the crypto industry,” stated Zafar.
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